Fuel Prices Hiked: Diesel, Kerosene and Aviation Fuel Become Costlier

Nepal Oil Corporation (NOC) has increased the prices of key petroleum products effective from 12:00 midnight, according to a press statement issued by the corporation.

Under the revised rates, the prices of diesel and kerosene have been increased by Rs 30 per litre. Similarly, aviation fuel for the domestic market has gone up by Rs 5 per litre. However, the price of petrol has been kept unchanged.

Following the latest adjustment, diesel and kerosene are now priced at Rs 237 per litre. Meanwhile, the price of aviation fuel for domestic carriers has been fixed at Rs 256 per litre.

The corporation stated that the price revision was necessary in response to rising costs in the international fuel market.

Despite the price hike, NOC revealed that it is still operating at a loss. The state-owned entity attributed the continued deficit to the sharp increase in international petroleum prices, which has significantly impacted its overall financial position.

The corporation has indicated that further adjustments may be necessary if global fuel prices continue to fluctuate.